ARTICLE | Financial News

Forest raises $1.8 billion in note deal

January 29, 2014 1:47 AM UTC

Forest Laboratories Inc. (NYSE:FRX) raised $1.8 billion through the sale of senior unsecured notes. The notes comprise $1.1 billion in 4.375% notes due 2019 and $750 million in 4.875% notes due 2021. Forest proposed to raise $1.8 billion in the offering on Monday. The company said it plans to use the proceeds for its acquisition of gastrointestinal company Aptalis Holdings Inc. (Bridgewater, N.J.). Earlier this month, Forest said it would acquire Aptalis for $2.9 billion in cash (see BioCentury Extra, Jan. 8). ...